Today’s workers have a challenging task ahead of them in saving for retirement.
It’s a rare employer that still offers a pension, and Social Security benefits are only designed to replace around 40% of your pre-retirement income. That means the...
With the cost of groceries soaring at a rate unseen since 1981, the pressure is on to save money at checkout. Alas, that is easier said than done. As of 2020, the average cost of grocery spending per month was $412, according to data from the Bureau of Labor...
$1.05 trillion in credit card debt. $245 billion in personal loan debt. These are just a couple of figures showing how much debt U.S. consumers were carrying as of the final quarter of 2023, according to TransUnion.
Now in reality, it's possible to land in debt despite being financially savvy. But a big...
Will 2022 be the year you make progress on your goal to retire as a millionaire? The answer is yes -- if you can do two things. First, keep reading. You'll learn four easy, essential steps for building wealth in your 401(k)....
Oil prices tend to see sustained gains following Middle East crisis events, while stocks eventually churn higher as safe haven assets gold and Treasurys fade from their initial pops, according to historical analysis.
Crude prices jumped roughly 3% on Friday...
Many people look forward to retirement. You can do all the things you never had time to do because of work and other obligations.
Retirement is not as easy as sitting by the pool or taking a...
Hitting your retirement savings goals is all but impossible unless you invest your money via a tax-advantaged account like a 401(k). These savings vehicles are often offered by employers, and as of 2023, you can contribute up to $22,500 in pretax earnings each year ($30,000 if you’re age 50 or older).
So...
Social Security beneficiaries saw the biggest cost-of-living adjustment in about 40 years in 2022, when they received a 5.9% boost to their monthly checks.
Next year, that annual adjustment may even go...
Everyone needs money. From meeting our most basic needs to allowing us the freedom to live as we wish, money is essential to our well-being. Money, essentially, makes the world go 'round. But financially fit individuals don't just have money; they save money. And they do...
Most people understand the virtues of a 401(k) when it comes to saving for retirement. Still, few know that there’s another employer-sponsored plan that could work just as well, if not better.
Like a traditional 401(k), a Roth 401(k)...
